KUALA LUMPUR – The ringgit was lower versus the United States dollar at the opening today amid a resurgence in Covid-19 cases globally, which has dented investor sentiment, said dealers.
At 9am, the local note fell to 4.1330/1360 against the greenback from 4.1200/1250 at yesterday’s close.
Axi chief global market strategist Stephen Innes said investors ran for cover with US bonds and the dollar as safe harbour to ride out the third coronavirus wave in various hotspots around the globe.
Meanwhile, Bursa Malaysia extended losses for the third straight day as investors adopted cautious trading given the overnight losses on Wall Street, amid concerns over US bond yields, weaker oil prices, and the intensifying virus situation in Europe.
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI fell 2.81 points to 1,592.49, following the whole-day low of 1,616.73 yesterday.
The index was 0.83 of a point weaker at 1,591.66 at 9am.
On the broader market, losers led gainers 386 to 198, while 328 counters were unchanged, 1,311 untraded and 11 suspended.
Total volume stood at 725.96 million shares worth RM284.99 million. – Bernama, March 24, 2021
